top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration

Facebook Login
Site Registration

What is objectives of VAT?

+1 vote
What is objectives of VAT?
posted Jun 14, 2017 by Raghav Choudhary

Share this question
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

0 votes

The objective for introducing VAT are-

  1. To avail credit on inputs leading to cost efficiency.
  2. Ensure equitable distribution of tax impact among st dealers.
  3. Easy compliance through transparent and easy procedures exist under it and only two rates are there.
  4. Easy computation of tax.
  5. Avoids double taxation through input rebate.
  6. Prevents distortions in trade and economy through uniform tax rates.
  7. Calculation Easy and Simple
  8. Transparency
  9. Increased Tax Base
  10. Competitive Price
  11. Uniform Tax Structure
  12. More Revenue
  13. NO Revenue Leakage
  14. Avoids Double Taxation
  15. Co-ordination of VAT with direct taxation
answer Jun 14, 2017 by Prachi
Contact Us
+91 9880187415
#280, 3rd floor, 5th Main
6th Sector, HSR Layout
Karnataka INDIA.